New UPI fee could push small merchants back to cash, retailers warn
- The Retailers Association of India warns the new UPI fee could push small merchants back towards cash.
- It says debit-linked UPI payments should have no merchant fee, since money moves directly from bank accounts.
- The association wants fees to rise with transaction size instead of applying one flat 0.4% charge.
- It also wants incentives for small merchants, for whom even a 0.4% fee can add to costs.
Source: economictimes.indiatimes.com
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